Waters (NYSE:WAT) Price Target Raised to $410.00

Waters (NYSE:WAT) had its price objective boosted by TD Cowen from $363.00 to $410.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a hold rating on the medical instruments supplier’s stock.

WAT has been the subject of a number of other reports. Leerink Partnrs raised Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Cfra set a $389.00 target price on Waters in a research report on Thursday, October 17th. The Goldman Sachs Group raised shares of Waters to a “hold” rating in a report on Wednesday, July 31st. Evercore ISI raised their price objective on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company boosted their target price on shares of Waters from $380.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Waters has an average rating of “Hold” and an average price target of $365.85.

Waters Price Performance

WAT opened at $386.59 on Monday. The firm’s fifty day moving average price is $344.06 and its two-hundred day moving average price is $326.73. The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of 36.90, a P/E/G ratio of 7.50 and a beta of 0.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.02 and a quick ratio of 0.55. Waters has a 1 year low of $241.95 and a 1 year high of $393.38.

Waters (NYSE:WAT) last issued its quarterly earnings data on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25. The business had revenue of $740.30 million during the quarter, compared to the consensus estimate of $712.99 million. Waters had a net margin of 21.43% and a return on equity of 49.93%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.84 EPS. As a group, analysts anticipate that Waters will post 11.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its holdings in shares of Waters by 55.1% in the first quarter. SG Americas Securities LLC now owns 14,765 shares of the medical instruments supplier’s stock worth $5,083,000 after acquiring an additional 5,248 shares during the period. TD Asset Management Inc lifted its holdings in Waters by 4.3% during the 1st quarter. TD Asset Management Inc now owns 443,493 shares of the medical instruments supplier’s stock worth $152,664,000 after purchasing an additional 18,274 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Waters in the 1st quarter worth about $1,786,000. Swedbank AB purchased a new position in Waters during the 1st quarter valued at about $10,106,000. Finally, Bessemer Group Inc. increased its position in shares of Waters by 67.5% during the first quarter. Bessemer Group Inc. now owns 10,382 shares of the medical instruments supplier’s stock valued at $3,574,000 after buying an additional 4,184 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Waters Company Profile

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.